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China chip giant Tsinghua Unigroup says creditor seeks bankruptcy

Move comes after state-backed group misses string of bond payment deadlines

People stop by the booth of Tsinghua Unigroup at a semiconductor expo in Shanghai in October 2020.    © AP

TAIPEI/HONG KONG -- Embattled Chinese tech flagship Tsinghua Unigroup confirmed Friday that one of its creditors has asked a court to begin bankruptcy proceedings for the group, in the latest setback to China's goal of building a self-reliant semiconductor industry.

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